Carlisle upgraded to Outperform from Market Perform at BMO Capital BMO Capital upgraded Carlisle following the sale of the lower margin Transportation Products division, increasing operating leverage, and cash flow generation. Price target raised to $88 from $70.
Carlisle: We maintain a favorable outlook for the remainder of 2014 CEO David Roberts said, “We maintain our favorable outlook for the remainder of 2014 driven primarily by continued growth at CCM and CIT. We continue to plan for high single-digit percentage sales growth for 2014 as well as higher EBIT and EBIT margin expansion. In addition, the two acquisitions we announced are excellent strategic fits and align with our long term growth and margin profiles. Both acquisitions are being funded from cash on hand leaving us with ample liquidity to further pursue our long-term growth objectives and return capital to our shareholders.”